right now the dow is about 600 points away from that high-water mark. for the year, stocks are still up a solid 15%. why does it feel like it's the most hated bull market in recent memory? the numbers show that main street investors are not on the ride. they have been pulling money out of the stock mutual funds 15 of the last 16 months, putting cash into so-called safer assets, bill. we know that to be bonds. >> yes, we do. in today's "closing bell" exchange, we have larry blazer, peter bookbar, bob, and rick santelli standing by as well. peter, we all realize that the fed has had something to do with the comeback of the stock market right now. compare to where we were five years ago. the economy is better than it was, yes? >> well, yeah, it's better than it was because the comparison is so poor. we talk about the dow being where it was five years ago, the s&p 500 is actually where it was 12 years ago. we've had a tripling of the fed's balance sheet. so have we made real progress?